Find the compound interest on Rs. 13200 at 10% per annum for 2 years. MCQ with Answer and Explanation
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Question #1
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What is the compound interest on Rs. 16000 for 1.5 years at 10% per annum, compounded half-yearly?
Correct Answer: Option B
Explanation:
Half-yearly rate = 10/2 = 5%. Time = 1.5 years = 3 half-years. Amount = 16000 * (1 + 5/100)^3 = 16000 * (1.05)^3 = 16000 * 1.157625 = Rs. 18522. Compound Interest = 18522 - 16000 = Rs. 2522.
Half-yearly rate = 10/2 = 5%. Time = 1.5 years = 3 half-years. Amount = 16000 * (1 + 5/100)^3 = 16000 * (1.05)^3 = 16000 * 1.157625 = Rs. 18522. Compound Interest = 18522 - 16000 = Rs. 2522.
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Maths
Compound Interest
Question #2
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The compound interest on a sum for 1 year at 10% per annum compounded half-yearly is Rs. 410. Find the sum.
Correct Answer: Option B
Explanation:
CI = P[(1.05)² − 1] = 0.1025P = 410 ⇒ P = 4000.
CI = P[(1.05)² − 1] = 0.1025P = 410 ⇒ P = 4000.
This question belongs to:
Maths
Compound Interest
Question #3
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At what rate percent per annum will Rs. 64000 amount to Rs. 68921 in 3 years, compound interest compounded annually?
Correct Answer: Option C
Explanation:
Amount/Principal = 68921 / 64000 = (41 / 40)^3. Therefore, 1 + R/100 = 41/40 => R/100 = 1/40 => R = 2.5%.
Amount/Principal = 68921 / 64000 = (41 / 40)^3. Therefore, 1 + R/100 = 41/40 => R/100 = 1/40 => R = 2.5%.
This question belongs to:
Maths
Compound Interest
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